Does Your Ohio Small Business Have To Offer Health Insurance Under Obamacare?

so you live in Ohio you have a small business that also exists in Ohio does that small business that exists in a while have to offer your employees health insurance next year under the Affordable Care Act I'm gonna tell you right now how's it going everyone I'm Joey chingola with chingola insurance and today we're going to talk about one simple question that a lot of small business owners still don't know the answer to even though we are just months away from the affordable care act firmly taking hold that simple question is do you have to offer your employees health

insurance at the start of 2014 or 2015 the simple answer that question is no no business will have to offer their employees health insurance until 2015 that's as a result of the employer mandate being delayed one full year that you may have heard about just a couple months ago but even on top of that no business with less than 50 employees will ever have to offer their employees health insurance there's the simple answer to the question that you have probably been seeking or unsure for quite some time if you have less than 50 employees you are not required even when

the mandate is enforced to offer health insurance to your employees but not so fast every person in the country will have to buy health insurance as a result of the individual mandate which was not delayed so that means regardless of whether your company has a health insurance policy or not you and your employees will have to get it or face paying a penalty for not having it what are your options what are the options for somebody who has less than 50 employees as far as their health insurance goes option number one is one that's been available to you pretty much

forever and that is you can buy a health insurance policy right now a pre-obamacare plan if you will to kind of avoid all the silliness that is forthcoming only problem with that is if you're buying an individual plan for yourself or for a specific individual employees is that for the next few months it will still be subject to medical underwriting or basically a valuation of your medical history to determine if you are eligible to get coverage also you still do have the option to buy a group health insurance plan for the company that process is

guaranteed issue and there is medical underwriting for that your second option is to allow your employees to go seek coverage through Ohio's upcoming health insurance marketplace that marketplace is set to kick off on october first and will be guaranteed issue and people will receive subsidized coverage based upon the amount of money that they make if you or your employees meet those income requirements you will be eligible to have health insurance that is partially paid for or subsidized

by these tax credits and subsidies what it means for your business well it means you have absolutely no financial responsibility for paying for facilitating that coverage however you would be able to offer your employees a set dollar amount to cover whatever cost that you might feel reasonable or justifies that means you could say i'm going to give you two hundred dollars for your health insurance or whatever the amount is that you might want to option number three you can buy an affordable care act approved group health insurance plan so basically that

means you would just be waiting to buy a plan until all this kind of stuff happens when most of it is really focused on the individual market and I mean there will be some changes on the group end but primarily the biggest changes will occur in the individual market in these marketplaces that are you know coming up here soon and number four you can do nothing I obviously don't recommend that and that is you know probably my least favorite option on that list if it if it was not then there'd be problems but it's definitely

not my favorite option on the list and the reason is because if at the very least if you do nothing else for your employees throughout this entire reform process you should be able to point them in the direction where they will be able to obtain this coverage simply because they have to have it and for whatever reason again in this country it is tied to your workplace for looking towards having health insurance so if you're not going to provide it you can at least show them where to get it again just have that be one less thing that they

have to worry about dealing with because if they don't get it then they're going to be subject to a tax penalty if they don't have it going to make their lives easier which an intern is going to make your company form better so again if you are truly a Ohio small business then little is really going to change for what you have to do as far as health insurance goes outside of buying it for yourself don't let anyone try and confuse you or tell you otherwise what you're going to want to do next and there's two things the first is you can go ahead and download our free guide how to understand Ohio's

health insurance marketplace this is going to walk you through all the information that you do need to know about the upcoming marketplaces whether it's going to be right for you and/or your employees and how to determine if that's the case again if you want to do that you can click right here on this ebook or there is a link right below in the video's description or more importantly what you're going to want to do and I would encourage this strongly is to contact me for your very own Ohio health insurance marketplace evaluation basically just let me you know talk to you about your situation your company

what's going to work best for you and that will go a long way to help you determining where you need to be where your company needs to be and ultimately again helping you facilitate just that information to your employees if you want to go ahead and do that there is a link below in the video's description so again I want to thank you for taking the time to watch this video I know health insurance is not the most riveting topic but guess what it's going to be very important to you here coming up and there's a lot of things that you need to know and of course as always I am Joey jangilova with jingle insurance agency take it easy everyone